Driving Impact Through Investments
As a private credit provider, our greatest impact undoubtably lies in how and where we deploy capital. This is where our efforts translate into real-world outcomes.
Over the past years, we have financed over 180 companies and deployed more than €5.65 billion as mostly primary capital into their operations. By providing capital to support company growth, rather than changing ownership, we contribute directly to real economic activity and sustainable impact. The scale and direction of our capital allocation - how much we invest, and into which businesses - defines our material sustainability impact.
Over the past years, we have financed over 180 companies and deployed more than €5.65 billion as mostly primary capital into their operations. By providing capital to support company growth, rather than changing ownership, we contribute directly to real economic activity and sustainable impact. The scale and direction of our capital allocation - how much we invest, and into which businesses - defines our material sustainability impact.
To ensure that we embed ESG and impact considerations throughout our investment process, from pre-investment screening to post-investment monitoring, we have developed a thorough integration method. This integration supports resilient business models and long-term value creation and ensures alignment with both financial and non-financial objectives.
Responsibility is shared across deal teams and portfolio management, with strategic oversight from the Director of Sustainability to ensure consistency from initial screening through post-investment support.
During 2024 we made eight new investments. Six of which was assessed using our internal ESG due diligence tool, which generates a quantitative risk score (1–100) based on three dimensions: risk exposure, risk mitigation, and potential financial impact. Investments are categorized into four levels:
• Low Risk (<20)
• Medium Risk (20–40)
• High Risk (40–70)
• Very High Risk (>70)
• Low Risk (<20)
• Medium Risk (20–40)
• High Risk (40–70)
• Very High Risk (>70)
These scores guide our post-investment approach. For companies rated High or Very High, ESG risks are incorporated into financial forecasts and risk management plans. While we are open to investing in higher-risk companies, such risks must be clearly identified, transparently addressed, and actively managed. We do not invest in companies that breach our exclusion criteria, as outlined in our Responsible Investment Policy.
In 2024, four of the six assessed investments were categorized as Low Risk, and two as Medium Risk—mainly due to climate exposure and end-user or consumer impacts. This marks the first year of full implementation of our ESG risk scoring framework, providing a valuable baseline for future tracking. As we continue applying this methodology, we will monitor evolving risks, identify which categories are most material, and evaluate how portfolio companies respond over time. For example, if climate risk consistently ranks highest, we will adapt our engagement efforts, accordingly, including tailored support and capacity building.